03-10: KFC, Chevron, Office building, Shopping center, O'Reilly, Round Table Headquarters

1. KFC in Montgomery, OK: 2673 SF KFC with drive thru built in 1992 on ¾ ac lot.  New 20 yrs NNN lease to a 197 unit operator. NOI $73K/yr. With 7.5% rent bump every 5 yrs.  $1.009M. 7.25% cap.  Store with strong sales of over $970K/yr.
2. Chevron Gas Station in Sunnyvale, CA: Chevron gas station with convenience store and car wash built in 1998 on .42 ac lot on Mathilda Ave at Hwy 101.  Station pumps over 1M gallon/yr. NOI $258K/yr. $2.4M. 10.78% cap.
3. Office Building in San Jose, CA: 4480 SF office building on .21 ac lot near West gate Mall in affluent area (AHI $120K/yr).  90% leased at below market rent.  NOI $45K/yr. $899K. 5% cap.  Just $200/SF!
4. Shopping Center in Ontario, CA: 45,075 SF shopping center on 3.89 acres lot as part of a larger center next to hwy 60 (Pomona Fwy).  100% NNN leased by 3 tenants including: Sears Outlet, Dunn Edwards Paints.  NOI $678K/yr. $7.825M. 8.65% cap.
5. O’Reilly in Lynn haven, FL: new 6944 SF auto parts store on .64 acre lot in growing Panama city metro.  20 yrs NNN corp lease.  NOI $102K/yr with rent bump every 10 yrs.  $1.307M. 7.8% cap.
6. Lone Star Steakhouse in Dayton, OH: 5498 SF franchised steakhouse built in 1995 on 1.75 acres lot.  Near Wal-Mart Super Center, Sam' s Club, Olive Garden, Smokey Bones, Red Lobster, Hooters, Outback Steakhouse, ,Hooters, Max & Erma' s, Skyline Chili.  15 yrs NNN lease with 11 yrs remaining.  NOI $171K/yr with 2% annual rent bump. $1.559M. 11% cap.
7. Round Table Pizza/Dairy Queen Corp Headquarters in Carrollton, TX: 21,156 SF single-tenant office building renovated in 2011 on 1.42 acres lot in upper middle class Dallas suburbs (AHI $92K/yr).  New 20 yrs absolute NNN lease.  NOI $240K/yr with 10% rent bump every 5 yrs.  $2.825M. 8.5% cap.
8. Office Building in Sunnyvale, CA: 6600 SF vacant office building on .22 acre lot near Hwy 101 & 237.  $1.388M.

© Transmercial 2011.